Brits emotionally detached from their homes
July 7, 2007 by admin
Filed under News, News-Mortgages
The majority of British homeowners are not living in their dream home and remain emotionally detached from their property.
Research by Alliance & Leicester shows that just 2.3 million UK adults have found their dream property, while the rest are simply making do.
Mortgage holders were asked, on a scale of one to ten, how emotionally attached they were to their homes, with the average rating being just 5.83.
This means that most Brits see their current home as a halfway house and most would rather live somewhere else.
Alliance & Leicester suggests that this may be down to the fact that many people are so desperate to get onto the property ladder that they will accept anything.
The firm also points to an increasing number of new-build flats that lack character and are primarily seen as an investment by young buyers.
“It seems people are happy to move into a property that isn’t their ideal, in order to move up the property ladder and reap the benefit of rising house prices,” said Stephen Leonard, director of mortgages at Alliance & Leicester.
“More and more people seem to be looking for property on the basis of an investment, rather than buying their dream home.”
The research also found that location is the most important factor when choosing a home, followed by price.
